Companies in trouble

per the risk Coastal Build and Construction - $110 Tile Tck - $78k port found 3.7 businesses in were at high

The report comes in the wake of two major collapses in the space of a week – Queensland One Homes, which is in liquidation owing more than $3 million, and cent of industry of insolvency. A1 Interiors - $200k Commonwealth Games Village contractor Ware Building. A third company linked to Queensland One Homes, Empire Constructions Pty Ltd, is under investigation for alleged illegal phoenix activity.

SV Partners director Matthew Bookless said Commonwealth NorthernAir - $70k Vision Fire and Electrical - $150k Westwood Workshop - $90k Games spending had buoyed construction and infrastructure businesses on the Gold Coast but they would need to find new business soon.

“When one construction company starts to struggle, it can have a roll-on impact very quickly,” he said.

“If one local construction business cannot pay its creditors, it can have significant impacts on other contractors’ cash flows.

“Builders and construction contractors need to ensure that they have enough capital to weather short-term disruptions to their cash flow and to Coastal Masonry - $100k Trend Aluminium - $18k seek professional advice in the event any downturn in business is likely to exhaust available capital reserves.”

The Queensland Building and Construction Commission said investigations into Queensland One Homes and Empire Constructions Pty Ltd were ongoing.

“The QBCC has referred possible illegal phoenixing activities between Queensland One Homes Pty Ltd and Empire Constructions Pty Ltd to ASIC,” the regulator said in a statement.

“The QBCC’s investigations into Empire Constructions Pty Ltd are continuing.”